AI company CoreWeave submits IPO application, aiming to raise $4 billion at a valuation of $35 billion

According to CoinDesk, CoreWeave, an AI company closely collaborating with Bitcoin mining company Core Scientific, submitted an IPO application today, with an expected financing of $4 billion and a valuation of over $35 billion. The prospectus shows that the company achieved revenue of $1.9 billion in 2024, but suffered a net loss of $863 million due to AI related investments. The company has currently accumulated a loss of 1.5 billion US dollars. CoreWeave has invited Core Scientific to assist in building a 500 megawatt (MW) AI infrastructure. When CoreWeave was still engaged in Ethereum mining business, the latter was the former's largest GPU supplier.